Trend analysis (Fig. 1).
On Friday, the market from the level of 1.3717 (closing of yesterday's daily candle) will try to start moving down with the target of 1.3632 - 21 EMA (black thin line). When this line is reached, the price may continue to move down with the target of 1.3519 - the lower fractal (daily candle from 18.01.2021).
Figure 1 (Daily Chart).
Comprehensive analysis:
- Indicator analysis - down
- Fibonacci levels - down
- Volumes - down
- Candlestick analysis - down
- Trend analysis - up
- Bollinger bands - up
- Weekly chart - down
General conclusion:
Today, the price from the level of 1.3717 (closing of yesterday's daily candle) will try to start moving down with the target of 1.3632 - 21 EMA (black thin line). When this line is reached, the price may continue to move down with the target of 1.3519 - the lower fractal (daily candle from 18.01.2021).
Alternative scenario: from the level of 1.3717 (closing of yesterday's daily candle), the price will try to start moving down with the target of 1.3668 - 13 average EMA (yellow thin line). When this line is reached, the price can start moving upwards with the target of 1.3757 - the upper fractal (daily candle from 01/27/2021).
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